Prime Minister's Office
English rendering of PM’s address at Global Investors' Summit 2023 in Lucknow, Uttar Pradesh
Governor of Uttar Pradesh Smt. Anandiben Patel, Chief Minister of Uttar Pradesh Yogi Adityanath ji, Deputy Chief Ministers Keshav Prasad Maurya ji and Brajesh Pathak ji, my senior colleague in the Union Cabinet and the representative of Lucknow Shri Rajnath Singh ji, Excellencies from different countries, all the ministers of UP and respected members of the industry, global investor fraternity, policy makers, corporate leaders, ladies and gentlemen attending the Global Investors Summit!
A very warm welcome to all of you at the Global Investors Summit! You must be wondering why I am taking the responsibility of welcoming you while being the chief guest. It is because I have another role as well. All of you have made me the Prime Minister of India as well as the Member of Parliament from Uttar Pradesh. I have special affection for Uttar Pradesh and I also have a special responsibility towards the people of UP. Today, I have become a part of this summit to fulfill that responsibility. And therefore, I greet and welcome all the investors from India and abroad who have come to UP.
Friends,
Uttar Pradesh is known for its cultural splendor, glorious history and rich heritage. Despite having so much potential, some unpleasant things had been associated with UP. People used to say that it is difficult for UP to develop. People used to say it is impossible to improve law and order here. UP was called BIMARU state. There used to be scams worth thousands of crores of rupees on a regular basis. Everyone had given up their hopes from UP. But UP has established a new identity of its own within just five-six years and that too emphatically. Now UP is being recognized for good governance. Now UP is known for better law and order, peace and stability. Now new opportunities are being created here for wealth creators. The results of this modern infrastructure initiative of Uttar Pradesh have become visible in the last few years. There has been improvement in every field from electricity to connectivity. Very soon, UP will also be known as the only state in the country which has five international airports. Through the Dedicated Freight Corridor, UP is being directly linked to the sea and to the ports of Gujarat and Maharashtra. Along with the infrastructure, there has been a significant change in the thinking and approach of the government in UP for ease of doing business.
Friends,
Today UP represents hope. If India is a bright spot in the world today, then UP is leading to drive India's growth.
Friends,
All the industry veterans are here. Most of you also have a long experience. The current state of the world is also not hidden from you. You are looking very closely at today's potential of India's economy and the macro and micro economic fundamentals here. How did India become the fastest growing economy after battling the shocks of pandemic and war? Today every credible voice of the world believes that India's economy will continue to grow at the same speed. After all, what happened that India not only showed resilience, but also made recovery equally fast in this period of global crisis?
Friends,
The biggest reason behind this is the growing self-confidence of Indians. Today, a big change can be seen in the thinking and aspirations of Indian society, in the thinking of the youth of India. Today every citizen of India wants to see more and rapid development. He now wants to see India develop as soon as possible. Today, the aspirations of the society of India are pushing the governments as well and these aspirations are also speeding up the development projects.
And friends,
Don't forget that the state in which you are present today has a population of around 25 crores. Uttar Pradesh alone has more potential than even the major countries of the world. Like the whole of India, today a huge aspirational society is waiting for you in UP.
Friends,
Today, UP has benefited a lot from the social, physical and digital infrastructure that has been developed in India. As a result, today the society here has become socially and financially very inclusive. India as a market is now becoming seamless and government procedures are also becoming simplified. I often say that today India carries out reforms not out of compulsion, but out of conviction. This is the reason why India has done away with more than 40,000 compliances and has abolished dozens of archaic laws.
Friends,
Today India has truly embarked on the path of speed and scale. We have fulfilled the basic needs of a very large section and now they have started thinking ahead. This is the biggest reason of trust for India.
Friends,
You will clearly see the same commitment in the budget presented by the Government of India a few days back. Today the government is making a record spending on infrastructure and we are increasing it every year. New opportunities are being created for you to invest in infrastructure. Today there are many opportunities for you to invest in health, education and social infrastructure. I specially invite you to follow the path of green growth that India has embarked on. We have earmarked 35,000 crore rupees only for energy transition in this year’s budget. This shows our intention. Mission Green Hydrogen gives a boost to our intention. Several steps have been taken in this year’s budget to develop the entire ecosystem related to it. We are developing a new supply and value chain for the transformation of electric mobility.
Friends,
I am happy that today UP is emerging as a new champion for developing new value and supply chains. A very strong network of MSMEs, industries linked to tradition and modernity, is vibrant in Uttar Pradesh today. There are Bhadohi carpets and Banarasi silk. UP is textile hub of India because of Bhadohi Carpet Cluster and Varanasi Silk Cluster. Today, more than 60 percent of mobile manufacturing in India happens in Uttar Pradesh alone. Maximum manufacturing of mobile components is also done in UP. Now one of the two defense corridors of the country is being built in UP. The work on the UP Defence Corridor is going on at a rapid pace. Today the demand for Made in India defense equipment is continuously increasing. We are also committed to provide maximum Made in India defense systems and platforms to the Indian Army. And the leadership of this great project is being handled by our Karmaveer Rajnath Singh ji of Lucknow. At a time when India is developing a vibrant defense industry, you must take first mover advantage.
Friends,
There are many possibilities in Uttar Pradesh in the Dairy, Fisheries, Agriculture and Food Processing sectors. There is a lot of diversity in Uttar Pradesh regarding fruits and vegetables. This is a sector in which the participation of the private sector is still very limited. You would be aware that we have come up with the Production Linked Incentive  scheme for food processing. You must take advantage of this scheme.
Friends,
Today, it is the endeavor of the government that a modern system should be available for the farmers from inputs to post harvest management. Small investors can use the Agri Infra Fund. Similarly, we have made provision in the budget to develop a huge storage capacity across the country. This is also a great opportunity for small investors.
Friends,
Today, much of our focus in India is on crop diversification, on providing more resources to small farmers and reducing their input costs. That's why we are fast moving towards natural farming. Natural farming has started in an area of 5 kilometers on both sides of the Ganges in UP. Now we have announced to set up 10,000 Bio Input Resource Centers in this year’s budget to help the farmers. This will further encourage natural farming. There are many possibilities of investment for private entrepreneurs in this regard.
Friends,
A new campaign has started in India regarding millets. These millets of India are generally called coarse grains. Now there are many varieties of it. You must have heard in this year’s budget that we have given a new name to this millet coarse grain ‘Shree Anna’ in order to create its identity in the world market. ‘Shree Anna’ has a lot of nutritional value. This is a superfood. Like Shreefal, ‘Shree Anna’ is also going to become a novelty. It is our endeavor that India's ‘Shree Anna’ addresses global nutritional security. The world is also celebrating this year as the International Year of Millets. Therefore, on the one hand, we are motivating the farmers for the production of ‘Shree Anna’, while on the other hand we are also expanding the global market for it. Friends associated with the food processing sector can explore the possibilities in ‘Ready to Eat’ and ‘Ready to Cook’ ‘Shree Anna’ products and also serve mankind in a big way.
Friends,
A very commendable work regarding another issue has taken place in Uttar Pradesh. It is related to education and skill development. Mahayogi Guru Gorakhnath Ayush University, Atal Bihari Vajpayee Health University, Raja Mahendra Pratap Singh University, Major Dhyan Chand Sports University and many such institutions will prepare youth for different skills. I have been told that so far more than 16 lakh youths of UP have been trained in different skills under the Skill Development Mission. The UP government has also started courses related to artificial intelligence in PGI Lucknow and IIT Kanpur. On my way, our Governor, who is in charge of education being the Chancellor, told me that it is a matter of great pride for Uttar Pradesh that this time four universities of Uttar Pradesh have left their imprint in net-accreditation in India. I heartily congratulate the people associated with the world of education and the Chancellor Madam for this achievement. UP's role in the country's start-up revolution is also increasing continuously. The UP government has set a target of 100 incubators and three state-of-the-art centers in the near future. This means that the investors coming here are also going to get a huge pool of talented and skilled youth.
Friends,
There cannot be a better partnership than this. There is the double engine government’s intention on the one hand and Uttar Pradesh brimming with possibilities on the other hand. We should not waste this time. The prosperity of the world lies in the prosperity of India. The bright future of the world is guaranteed in the bright future of India. Your participation is very important in this journey of prosperity. May this investment be auspicious and bring good fortune to everyone. With this wish, many best wishes to all the investors of the country and the world who have come forward for investment. And being an MP of Uttar Pradesh, I assure you that the government and the bureaucracy of Uttar Pradesh have set out on the path of progress with determination to make your dreams come true. With this belief, I once again welcome the investors of our country and abroad to the land of Uttar Pradesh.
Thanks a lot.
DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered in Hindi.